TARRYTOWN, N.Y., April 19, 2017 /PRNewswire/ -- αlpha-En Corporation (OTC: ALPE), an innovative clean technology company focused on enabling next-generation battery technologies by producing high purity lithium metal and associated products, announced today that it has posted an updated slide presentation on its website primarily intended for investor presentations. Click here to view: https://alpha-encorp.com/company-presentation/
In addition, Jerome Feldman, CEO and Founder wrote the following shareholder update letter which has also been filed with the SEC on form 8-K.
It seems just a few days since our last shareholder letter, but it has in fact been several years and much has happened. Let's review:
Management: we have put together the nucleus of a talented team. All with credentials, and all excited by the prospect of being at the beginnings of what could be a significant change in the energy world. Steven Fludder, CEO, from GE and Samsung. Nathan Wasserman, CFO, from Deloitte and the business world. Jim Kilman, newly elected to the Board of Directors, recent retiree from Morgan Stanley (Vice – Chairman) at the ripe old age of 55 years. In addition, our management team is supported by a small team of talented researchers and managers. To further develop our technology we have entered into research agreements with academic institutions, including Argonne National Laboratory, the City University of New York, and Princeton University.
Technology: simply put, we believe we have invented a new process for the production of highly pure lithium metal. We believe advantages of process include lower processing heat (room temperature), fewer abusive chemicals (such as mercury and chlorine) and lower production costs than existing methods. Most importantly we believe our lithium can be a disruptive product – purity in lab tests has been in excess of 99.997%. Based on scientific literature on lithium, we believe this is a purity level never achieved before.
Purity will be a key element to the development of the lithium air and/or lithium sulfur batteries, which many in the industry consider the "Holy Grail" of the energy world, which scientists have been seeking for over 25 years.
To add to the protection of our technology, we also are in the process of trying to obtain a number of patents underlying our inventions. Working with K&L Gates, our patent counsel, we have filed a number of patent applications totaling over 100 claims. We will continue to build on this base.
On March 31, 2017 we filed with the SEC our annual report on Form 10-K for fiscal year 2016 – bringing us up to date on SEC filings. This has been achieved with the help of our auditors, EisnerAmper, and attorneys, K&L Gates, working together. We believe that becoming current with our filings will help us better "to tell our story" to our current and future shareholders and investors.
Simultaneously, we are in discussion with a number of corporations that are interested in our work and are potential research, licensing or manufacturing partners. We hope to move into our new Yonkers laboratory shortly, which will permit us not only to enhance our development program, but equally important, to use our own facility and expertise to manufacture samples for potential customers and partners.
As we move further into 2017, we will likely increase our spending, primarily because of our new laboratory and the scientists we will need to staff it, the increased need for collaborative research with academic and scientific institutions, and the expansion of marketing and human capital. We believe that these increased expenses will help us build a path to generating revenues in the future, a thrilling prospect for all of us.
Running a development stage company is exciting, sometimes fun, but also really hard work. We have raised our operating funds to date primarily from officers, directors and affiliates, our "friends and family". We believe the next stage of our expansion may require raising funds from private or public offerings. Whatever the next stage in our journey, we will remain loyal to our shareholders and to our dream of bringing our highly pure lithium technology to the world.
Very Truly Yours
About alpha-En Corporation
Alpha-En Corporation (OTC: ALPE) is an innovative clean technology company focused on enabling next generation battery technologies by developing and bringing to market high purity lithium metal and associated products produced in an environmentally sustainable manner. For more information, please visit http://alpha-encorp.com.
Thomas Suppanz, Managing Director/Finance
914 418 2000
212 691 8087
Except for the historical information herein, the matters discussed in this news release may include forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current knowledge, assumptions, judgment and expectations regarding future performance or events. Although management believes that the expectations reflected in such statements are reasonable, readers are cautioned not to place undue reliance on these forward-looking statements, as they are subject to various risks and uncertainties that may cause actual results to vary materially. alpha-En Corporation assumes no obligation to update the information in this release. Reference to the Company's website above does not constitute incorporation of any of the information thereon into this press release.
SOURCE alpha-En Corporation